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Consumer Protection Law Commons

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Banking and Finance Law

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Selected Works

2019

Articles 1 - 3 of 3

Full-Text Articles in Consumer Protection Law

Comment Of Professor Patricia A. Mccoy On Docket No. Cfpb-2019-0039, Patricia A. Mccoy Oct 2019

Comment Of Professor Patricia A. Mccoy On Docket No. Cfpb-2019-0039, Patricia A. Mccoy

Patricia A. McCoy

In this comment letter, Professor McCoy responds to the Advance Notice of Proposed Rulemaking on Qualified Mortgages issued by the Consumer Financial Protection Bureau.


Inside Job: The Assault On The Structure Of The Consumer Financial Protection Bureau, Patricia A. Mccoy Oct 2019

Inside Job: The Assault On The Structure Of The Consumer Financial Protection Bureau, Patricia A. Mccoy

Patricia A. McCoy

Soon after the 2016 election of Donald Trump as President of the United States, while Republicans controlled Congress, opponents of the fledgling Consumer Financial Protection Bureau (CFPB) opened a campaign against the Bureau. Their target was less the substance of federal consumer financial protection laws than the structure of the CFPB itself. This emphasis on structure was a response to the fact that Congress in 2010 had given special thought to the design of the CFPB to safeguard the Bureau and its mission.

In 2017, after legislation to weaken the Bureau’s structure failed in Congress and constitutional challenges to the …


Regulation Of Payday Loans: Misguided?, Paige Marta Skiba Apr 2019

Regulation Of Payday Loans: Misguided?, Paige Marta Skiba

Paige Marta Skiba

Since payday lenders came on the scene in 1990s, regulation of their "predatory" practices has been swift and often severe. Fourteen states now ban payday loans outright. From an economist's perspective, high-interest, short-term, small loans need not be a bad thing. Payday credit can help borrowers "smooth" consumption, unequivocally improving welfare as consumers borrow from future good times to help cover current shortfalls. These benefits of credit can accrue even at typical payday loan interest rates of 300%-600% APR. The question of whether payday credit actually assists borrowers in this way is an empirical one. In this Article, I review …